Financial targets

Annual sales growth, including organic sales and structural changes, over a business cycle should be >8 percent.

How we will achieve the target:
The target for annual sales growth will be achieved through a combination of acquisitions and organic growth. Organic growth will increase as an increasing share of the Group's sales is focused on industries and geographies with high structural growth.

Outcome 2025: 6%

Commentary on outcome in 2025

Net sales were on a par with the preceding year and amounted to SEK 34,329 M (34,170). Organic sales increased by 1 percent compared with 2024. Structural changes increased sales by 5 percent and currency movements were -6 percent compared with the preceding year. Total sales growth, organic as well as structural, averaged 9.8 percent over the past five years.

The EBITA margin, excluding items affecting comparability, is to amount to >20 percent over an economic cycle.

How we will achieve the target: The EBITA margin target will be achieved through a combination of parts of the business climbing higher up the value ladder, which increases the margin, and through higher growth in those parts of the business that already have a margin above the target level. 
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Outcome 2025: 18.3%

Commentary on outcome in 2025
The EBITA margin was 18.3 percent (18.0). Earnings and the margin were the highest ever for a single year. The EBITA margin averaged 17.7 percent over the past five years.

The return on capital employed (ROCE), excluding items affecting comparability, is to amount to >15 percent over an economic cycle.

How we will achieve the target: Return on capital employed is expected to improve as a result of an increasing EBITA margin.

Outcome 2025: 12.1%

Commentary on outcome in 2025
The return on capital employed (ROCE), excluding items affecting comparability, was 12.1 percent (12.2). The return measure was impacted by acquisitions with initially lower returns. ROCE averaged 13.6 percent over the past five years.